Gather the Facts
Fact: As an Account Executive in a financial firm, I ought to be like the proverbial Caesar’s wife and thus has unquestionable ethics. This includes both having ethics and being seemed to have ethics as appearances also account.
Fact: Being seemed to be too close to a major and wealthy customer may not affect my ethical stand but may easily be seemed to do so. This would affect my reputation, that of my employer and even that of the customer.
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Fact: The shipping industry is still very traditional and flaunts with cultural attributes. An inordinate insult to a customer would have adverse personal ramifications as well as for the employer.
Unknown: How would my employer and peers react of they hear about my accepting the gift more so when I explain that I did so to avoid offending the customer.
Unknown: Whether or not the customer will be understanding when I decline the gift with a very polite explanation about why I did so. How deep do the cultural implications of returning the gift go?
Define The Ethical Issues
The relationship between a company, its financier and other stakeholders is usually one premised primarily on trust. The company counts on the financier not only for advice but also for financing which is mainly given at the discretion of the financier. Further, the rates at which the financial instruments are extended are also generally at the discretion of the financier. Finally, the financial firm will also be counted on to recommend the customer to several stakeholders such as suppliers and business associates. These recommendations are almost always discretionally in nature. As an Account Executive handling the shipping magnate, most of this discretion based decision will be mine. I must, therefore, be impartial and also be deemed impartial. Accepting a gift from such a customer may actively but mainly passively affect the aforesaid discretion . This makes it unethical. The second ethical issue is professional in nature and entails the fact that accepting the gift under is prohibited. This will, therefore, result in the breach of an express regulation which is also unethical.
Identify the Affected Party
Me: I am caught between a crisis with my wife, breaking my moral code, risking my career and insulting a customer who has recently become a family friend.
The Company: Financial firms operate on trust and a placed on a very high pedestal. In the case I am found to have acted in an unethical manner , it will reflect adversely on my employer.
My wife: Having had the honor of participating in a ship christening , my wife has received a once in a lifetime gift and is amazed by it. It will be heart-wrenching for her to have to return it.
The Customer: the fact that an elaborate christening was held for a ship means that the customer is very traditional thus will be insulted by the act of returning the gift.
Consequences
Course of Action 1: I accept the gift and make the fact known to my employer.
Potential Consequence: Worst case scenario, I get a severe reprimand and a demand that I return the gift immediately.
Course of Action 2: I accept the gift quietly on the assumption it has nothing to do with the office as it is meant for my wife anyway.
Potential consequence: Months or years down the line, the same is discovered and all my decisions, as well as the reputation of the firm, comes into question with adverse ramifications.
Course of Action 3: I return the gift to the customer with an explanation about the ethical dilemma.
Potential Consequence: the customer is both insulted and feels that the fate of the ship is in jeopardy. Worst case scenario, I lose my biggest customer as well as a huge source of revenue for my employer.
Identify the Obligations
I already accepted the invitation for the christening and also allowed my wife to be part of the traditions kindred to the ship’s christening. I am, therefore, obliged to the traditions kindred to that as far as the customer is concerned. However, to this extent, I have not broken any rules, regulations or even compromised my ethics. I am still obliged to these rules, regulations and ethical standpoints, as a member of my profession and in line with my position in the company. Finally, I am also obliged not to undertake any activity that jeopardizes my employer or profession.
Consider Your Character And Integrity
This is personal and, therefore, much more complicated than the professional elements alluded to above. I believe myself to be an honest person who would not do anything to jeopardize my principles. I have never thought of cutting corners or compromising throughout my career. Finally, this entire issue has risen very innocently in my opinion as at no time did I intend to have an inordinate or unprofessional relationship with a customer. This is the easy part. The hard part is juxtaposing that with having to tell my wife that she has to return a gift that immortalizes a once in a lifetime moment. The harder part is having to break a tradition that has gone back over centuries after having willfully participated in it and at the expense of offending my largest customer. If this was someone else seeking my advice, I would have easily advocated for the return of the gift with due apologies. That is what aligns with my character.
Think Creatively About Potential Actions
From the totality of the above, it seems that both taking the gift and returning it have potentially extremely adverse ramifications. The best solution to this would be to find a middle ground where the gift is not returned . This would avoid breaking tradition and also insult the customer. However, the gift also cannot be kept as it would result in an ethical breach with extreme and adverse ramifications for myself and the company. A plausible solution would be to retain the gift in a manner that cannot be seemed to have benefited me in any way. This will contemporaneously avoid returning the gift and also cure the consequences of keeping it. A good means to achieve this would be to have the gift handed over to the CEO of the company for safe keeping and have that fact clearly recorded for posterity. The customer would believe that the gift was accepted and would even get a thank you note. I would also not be considered to have benefited in any way from the said gift thus no ethical rules would be broken.
Check Your Gut
I have a bad feeling about this gift as it really feels like that little decision that can define my career as well as my future. I also have a worse feeling about returning the gift. If this annoys the customer to the extent of firing my firm, this could have major adverse consequences. When the big firm leaves, most of the small ones will act with caution and leave soon after without establishing facts. This makes the instant scenario a moment to really act with caution and seek to do the right thing. This right thing neither entails returning the gift nor keeping it. A third solution must be found with the one outlined above gradually becoming more plausible.
